Portfolio comprises six facilities in Arkansas
(ORLANDO, FL) June 6, 2013 – CNL Healthcare Properties, an investment offering focused on senior housing and healthcare real estate, has acquired six skilled nursing properties in Arkansas for $56.4 million. This portfolio marks the company’s first acquisition in the post-acute care space.
“We are excited to introduce skilled nursing communities to our portfolio through this acquisition and our relationship with Senior Living Centers,” said Stephen H. Mauldin, president and CEO of CNL Healthcare Properties. “We continue to seek new opportunities to further diversify our investment portfolio. The skilled nursing industry has and will continue to play a critical role in the delivery of care to seniors and these properties strategically complement our existing and growing portfolio of senior living and healthcare real estate.”
The Perennial portfolio is composed of: Batesville Healthcare Center in Batesville, Ark.; Broadway Healthcare Center in West Memphis, Ark.; Jonesboro Healthcare Center in Jonesboro, Ark.; Magnolia Healthcare Center in Magnolia, Ark.; Mine Creek Healthcare Center in Nashville, Ark.; and Searcy Healthcare Center in Searcy, Ark. The communities include a total of 868 licensed beds.
Senior Living Centers will manage the six properties under a long-term lease agreement. Senior Living Centers currently manages 17 other skilled nursing properties in Arkansas with more than 1,600 licensed beds.
“This acquisition provided a great opportunity to expand our relationship with CNL Healthcare Properties,” said Brian Reynolds of Senior Living Centers. “Each property in Arkansas is dedicated to providing residents with quality care, and we look forward to continuing that commitment of care with CNL Healthcare Properties.”
Since its launch in the summer of 2011, CNL Healthcare Properties has acquired interests in senior housing and healthcare assets valued at more than $560 million.
Financial advisors can contact the managing dealer of the REIT, CNL Securities, member FINRA/SIPC, at (866) 650-0650 (www.CNLSecurities.com).
The full content of this article is only available to paid subscribers. If you are an active subscriber, please log in. To subscribe, please click here: SUBSCRIBE